County of Monterey - File #: A 22-297

• File #: A 22-297
• Name: Approve Assignment and Assumption Agreement and Amendment No. 1 to Agreement A-14210 WeatherTech (Agreement) and up to 3 future amendments to the Agreement
• Type: BoS Agreement
• Status: Passed
• File created: 6/1/2022
• In control: Board of Supervisors
• On agenda: 7/12/2022
• Final action: 7/12/2022
• Title: Approve and authorize the Monterey County Laguna Seca Representative to: a. Execute an Assignment & Assumption Agreement between MacNeil Automotive Products Limited and the County of Monterey, retroactively effective to March 22, 2022, approving the assignment of Agreement A-14210 from MacNeil Automotive Products Limited to WeatherTech Direct, LLC; and b. Execute Amendment No. 1 to Agreement A-14210 between WeatherTech Direct, LLC and the County of Monterey for facility naming rights to update party names, payment timelines, and licensing terms, and to extend the Agreement term through June 30, 2023, for a total not-to-exceed amount of $5,000,000.
• Related files: A 18-079, A 23-221

Date	Action By	Action	Result
7/12/2022	Board of Supervisors	approved	Pass

Title
Approve and authorize the Monterey County Laguna Seca Representative to:
a. Execute an Assignment & Assumption Agreement between MacNeil Automotive Products Limited and the County of Monterey, retroactively effective to March 22, 2022, approving the assignment of Agreement A-14210 from MacNeil Automotive Products Limited to WeatherTech Direct, LLC; and
b. Execute Amendment No. 1 to Agreement A-14210 between WeatherTech Direct, LLC and the County of Monterey for facility naming rights to update party names, payment timelines, and licensing terms, and to extend the Agreement term through June 30, 2023, for a total not-to-exceed amount of $5,000,000.
Report
RECOMMENDATION:
Approve and authorize the Monterey County Laguna Seca Representative to:
a. Execute an Assignment & Assumption Agreement between MacNeil Automotive Products Limited and the County of Monterey, retroactively effective to March 22, 2022, approving the assignment of Agreement A-14210 from MacNeil Automotive Products Limited to WeatherTech Direct, LLC; and
b. Execute Amendment No. 1 to Agreement A-14210 between WeatherTech Direct, LLC and the County of Monterey for facility naming rights to update party names, payment timelines, and licensing terms, and to extend the Agreement term through June 30, 2023, for a total not-to-exceed amount of $5,000,000.

SUMMARY/DISCUSSION:
On March 26, 2018, the Board of Supervisors approved a Sponsorship Agreement with MacNeil Automotive Products Limited (MacNeil) for exclusive title sponsorship of the WeatherTech(r) Raceway at Laguna Seca (WRLS) at Laguna Seca Recreation Area (LSRA). On March 22, 2022, MacNeil transferred the Agreement to WeatherTech Direct, LLC (WeatherTech) for the remainder of the Agreement term. In addition, the County transitioned management of LSRA from the Sports Car Racing Association of the Monterey Peninsula (SCRAMP) to A&D Narigi Consulting, LLC (A&D). The proposed Amendment No. 1 will update Agreement A-14210 to reflect thes...